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Managerial Accounting Jamie Poepoe 1/15/19 1:37 AM Homework: Chapter 2 Homework Save Score: 0.94 of 1 pt 6 of 8 (8 complete)> Hw Score: 97.6%,
Managerial Accounting Jamie Poepoe 1/15/19 1:37 AM Homework: Chapter 2 Homework Save Score: 0.94 of 1 pt 6 of 8 (8 complete)> Hw Score: 97.6%, 7.81 of 8 pts P2-43A (similar to) Data Table Super Displays designs and manufactures displays used in mobile devices. Serious flooding throughout the region he beginning in affected Super Displays' facilities. Inventory was completely ruined, and the company's computer system, including all EEE (Click the icon to accounting records, was destroyed. Raw materials, $103,000 .Work in process, S200,000 .Finished goods, $187,000 He remembers several schedules he learned in college that may help him get (Click the icon to view additional information.) Requirement Determine the ending Inventory contains Next, determine the ending inventory of work in process by calculating the cost of goods m started. More Info Super Displays Calculation of Cost of Goods Manufactured For Current Year Print Done Before the disaster recovery s controller, is anxious to salvage destroyed inventory. She is standing in what is left of the Accounting Department wth Todd Mackey, the cost accountant. Beginning work in process inventory 200000 Plus: Manufacturing costs incurred 523000 I didn't know mud could smell so bad," Todd says. "What should I be looking for? Direct labor Don't worry about beginning inventory numbers," responds Eleanor. "We'll get them from last year's annual report. We need first-quarter cost data." Direct materials used 584000 208000 1515000 Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured I was working on the first-quarter results just before the storm hit," Todd says. "Look, my report's still in my desk drawer. But all I can make out is that for the first quarter, material purchases were $537,000 and that direct labor, manufacturing overhead (other than indirect materials), and total manufacturing costs to account for were $523,000; $208,000; and 1,515,000, respectively. Wait, and cost of goods available for sale was $1,515,000. "Great," says Eleanor. "I remember that sales for the period were approximately $1.9 million. Given our gross profit of 25%, that's all you should need." Todd is not sure about that, but decides to see what he can do with this information. Choose from any list or enter any number in the input fields and then click Check Answer part remaining heck Answer Print Done Homework: Chapter 2 Homework Score: 0.87 of 1 pt %) P244A (similar to) 7 of 8 (8 complete) HW Score: 9 Part One: In 2015, Paula Webber opened Paula's Posies, a small retail shop selling floral arrangements. E (Click the icon to view the records.) Read the reg Part Two: Paula's Posies was so successful that Paula decided to manufacture her Part Three: Show the ending inventories that woul own brand of floral supplies: Floral Village Manufacturing. balance sheets: (Click the icon to view the records.) Read the requirements (Part Two). (Click the icon to view additional information.) Part One. Begin by calculating the cost of goods sold for the year Data Table Paula's Posies Calculation of Cost of Goods Sold For the Year Ended December 31, 2016 On December 31, 2016, her accounting records Beginning inventory Plus: Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold Now prepare an income statement for Paula's Posies, a merchandiser, for the year ended December 31, 2016 12,900 37,500 50,400 9,000 41,400 show the following Sales revenue Utilities for shop Inventory on December 31, 2016 Inventory on January 1, 2016 Rent for shop. $ 54,000 $1,600 9,000 $ 12,900 4,200 $ 4,500 $ 37,500 $ Paula's Posies Purchases of merchandise This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. PrintDone Similar Qu remaining Homework: Chapter 2 Homework Score: 0.87 of 1 pt & P2-44A (similar to) 7 of 8 (8 complete) HW Part One: In 2015, Paula Webber opened Paula's Posies, a small retail shop selling floral arrangements Part Two: Paula's Posies was so successful that Paula decided to manufacture her own brand of floral supplies: Floral Village Manufacturing. EEB (Click the icon to view the records.) Read the reguirements (Part Two) Part Three: Show the ending inventori balance sheets Click the icon to view the records.) 1 (Click the icon to view additional i Now prepare an income statement for Paula's Posies, a merchandiser, for the year ended December 31, 2016 Paula's Posies Income Statement For the Year Ended December 31, 2016 Sales revenue Less: Gross proft Less: Operating expenses $54,000 41,400 12,600 Cost of goods sold Rent expense Sales commissions expense Utilities expense $4,200 4,500 1,600 10,300 $ 2,300 Operating income Part Two: This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. Score: 0.87 of 1 pt 7 of 8 (8 complete) HW Score: 97.6%, 7.81 of 8 p (%) P2-44A (similar to) Question Help Data Table Part One: In 2015, Paula Webber opened Paula's Posies, a small retail shop selling floral arrangements. (Click the icon to view the records.) Read the requirement (Part One) Part Two: Paula's Posies was so own brand of fioral supplies: F (Click the icon to view the Read the hat would appear on these At the end of December 2017, her accounting records show the following: 4,700 $1,800 $4,100 $1,250 Utilities for plant Delivery expense. Sales salaries expense Plant janitorial services Work in process inventory, December 31, 2017. ..$1,500 Finished goods inventory, December 31, 2016 . $ Finished goods inventory, December 31, 2017. .. $3,000 Sales revenue Customer service hotline expense Direct labor Direct material purchases Rent on manufacturing plant Raw materials inventory, December 31, 2016 Raw materials inventory, December 31, 2017 Floral Village Manufacturing Calculation of Cost of Goods Manufactured For the Year Ended December 31, 2017 Beginning work in process inventory Manufacturing costs incurred Direct labor Direct materials used Manufacturing overhead Plus: Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured Requirement 2. Prepare an income statement for Floral Village Manufacturing for the year ended December 31, 2017 Begin by calculating the cost of goods sold for the year. (For accounts with a SO balance, make sure to enter '0 in the $ 30,000 35,000 15,150 80,150 1,500 S 78,650 $ 109,000 $1.700 $ 30,000 $31,000 $ 9,200 $ 10,000 $6,000 This question is complete. Move your cursor over or tap on the red arrows to see incorrect answers. Print Done Similar
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